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pF- RECORDED 200208615 200208363 Mortgage Insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreemens with other parties that share o[ modify their risk, or reduce losses. These agreements are on terms andeonditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, lender, any purchaser of the note, another insurer, any reinsurer, any other entity, or affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. IF such agreement provided that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (i) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has — if any — with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are herebyassignedto and shall be paid to lender. bid Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of theProperty, if the restoration or repair is economically feasible and lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender maypayfor the repairs and restoration in a single disbursement or in a series of progress payments as the work m completed. Unless an agreement is made in writing nr Applicable Law requires interest to be paid on such Miscellaneous Proceeds, lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceols. If the restoration or repair is not economically feasible or Lender's security would be lessened the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall he applied in the order provided for in Section 2. In the event of a tool hiking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destn'uction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking destruction, or loss in value divided by (h) the fair market value of the Property mar ediatelybetbre thepartial taking n, destructio or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall he applied to the sums secured by this Security Instrument whether or not the sums are then due. IF the Property is abandoned by Borrower, or o after notice by Leader to Borrower that the Opposing Party (as defined 0 the next sentence) offers to make an award to settle i claim for damages, Borrower fails to respond a Lender within 30 days after the date the notice t given, the sums is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property a to the sums secured by this Security instrument, whether or not than due. "Opposing Part}" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment ofUnder's interest in the Pi'opertyor rights under this Security Instrument. Bortower can cure such a default and, if acceleration has occurred, reinstate as provided In Section 19, by causing the action or proceeding to be dismissed with a ruling that, in icndcr'sjudgment, precludes forfeiture of the Property or other material impairment o Iender's interest in the Property or rights under thus Security Instrument. The Proceeds of any award or claim for damages that are attributable to the impairment of UndeR s interest in the Property are Al I Mis'ocllancous Proceeds that are not applied to restoration or repair of the Properly shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification ofamm tization of the sums secured by this Security instrument granted by Lender to Borrower or my Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceeding against any Successor in Interest of Borrower or W refuse to ex tend time for payment or otherwise modify grant anon of the sons secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, lender's acceptance of payments from third persons, entities or Suceossors in Interest of Burrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any not or remedy. 13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Bonowercovenarits and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer") (a) is co-signingthis Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of This SSecurity Instrumem; (b) is not per scantly obligated to pay the sums secured by this Security Instrument; and (e) agrees that Lender and any other Borrower can agree to extend midi fy, forbear or make any accommodations with regard to the terms of this Security Instrument or the Now without the go, signer's consent. Subject to the provisions of Section 18, any Successor in Interest oBorrower whoassumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits undo - this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including but not limited to, attorneys' fees, property inspection and valuation fees In regard to any other fees, the absence of express authority in this Security Instrument W charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that me expressly prohibited by this Security Instrument or by Applicable law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Uoan exceed the permitted limits. then: (a) any such loan charge shall be reduced by the amount necessary W reduce the charge to the permitted limit; and (h) any sums NEBRASKA -- Single Neely Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Formb029 1/01 (pages f8pages) 9]54CV(N2) GUM' GOT04"28830)